Wolverine Exploration Inc.

Wolverine Exploration Inc.

October 04, 2010 09:00 ET

Wolverine Exploration Announces Assay Results and Details of a Fall IP Survey at Cache River

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2010) - Wolverine Exploration Inc. ("Wolverine") (OTCQB:WOLV) has received assay results from its Phase 1 drill program on the Cache River Property in Labrador. The drilling confirms the presence of anomalous copper in disseminated sulphide with assay results returning grades up to 0.24% copper and anomalous gold.

With the completion of the Phase 1 diamond drilling program and the evaluation of the mineralized zones intersected, Wolverine is undertaking to complete an induced polarization (IP) survey over two selected areas beginning in October and which will be followed up with a winter drill program. The first grid will attempt to establish a correlation between the surface showings and the drill hole intersections. The second grid will try to establish a link between the surface showings and an airborne EM anomaly detected from the previous AeroTEM survey flown.

The surface showings produced higher grades of copper than the drill hole intersections. Although the range of assay values was less than anticipated, it is felt that the intensity of the airborne anomalies was not yet fully explained by drilling due to the overburden cover and the scarcity of rock exposures. An IP survey, to detect the source of the disseminated sulphides, is necessary to further examine the areas around the intersections and the geological projections.

Commenting on the assay results President Lee Costerd commented, "While we were hoping for better assay results, we are just in the early stages of exploration. We need to understand how the surface showings, which produced high assay results for copper, are related to the drill hole intersections. We also need to understand how the more prominent airborne EM targets figure in to the surface showings and drill hole results. The IP survey is the next logical step in this process. We should be reminded of the fact that anomalous copper and gold was present in our phase 1 drill holes."

Ed Montague, a qualified person as defined in NI 43-101, prepared the scientific and technical information disclosed in this news release. 

On behalf of the Board

Lee Costerd, President

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding results of the drilling program and the upcoming IP survey and winter drilling program.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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